Samsung Group says to sell 4 units to Hanwha Group for $1.7 bln

Hanwha Solutions

26/11/2014 24:00

SEOUL, Nov 26 (Reuters) - Samsung Group  SAGR.UL  said on 
Wednesday it is selling stakes in defence firm Samsung Techwin 
Co Ltd  012450.KS  and three other units for 1.9 trillion won 
($1.72 billion) to Hanwha Group units.  
    Samsung Group said in a statement Samsung Electronics Co Ltd 
 005930.KS , Samsung C&T Corp  000830.KS  and other Samsung 
affiliates decided to sell a 32.4 percent stake in Samsung 
Techwin to Hanwha Corp  000880.KS  for 840 billion won, and a 
57.6 percent stake in Samsung General Chemicals Co Ltd to Hanwha 
Chemical Corp  009830.KS  and Hanwha Energy Corp  YCOGN.UL  for 
1.06 trillion won.   
    The control of Samsung Thales Co Ltd, a joint venture unit 
with French defence electronics firm Thales  TCFP.PA , and 
Samsung Total Petrochemicals Co Ltd, a joint venture unit with 
France's Total SA  TOTF.PA , is also being transferred to Hanwha 
units, Samsung Group said.  
    The sale is expected to be completed in the first half of 
next year.  
 
(1 US dollar = 1,106.9000 Korean won) 
 
 (Reporting by Joyce Lee; Editing by Stephen Coates) 
 ((jungyoon.lee@thomsonreuters.com; +82 2 3704 5609; Reuters 
Messaging: jungyoon.lee.thomsonreuters.com@reuters.net)) 
 
Keywords: SAMSUNG GROUP M&A/HANWHA